Agreement of Acquisition

9 December 2016

John Laing Infrastructure Fund Limited

Agreement of Acquisition

JLIF, the FTSE 250 listed infrastructure investment company, is pleased to announce that it has signed a Sale and Purchase Agreement with John Laing Infrastructure Limited (a wholly-owned subsidiary of John Laing Group plc ("John Laing")) in respect of the acquisition of a 100% interest in the A55 Llandegai to Holyhead road PPP project. The A55, running from Holyhead across north Wales, forms part of the Trans-European Transport Network, providing a vital connection between the Republic of Ireland, the United Kingdom and ultimately Continental Europe.

The acquisition is being made under the First Offer Agreement between John Laing and JLIF. The consideration for the acquisition is approximately £28.3 million and completion is subject to the customary consents. The consideration will be funded through a combination of cash and by drawing on JLIF's £180 million multi-currency revolving credit facility.

The transaction represents JLIF's fifth highway investment in the United Kingdom and will bring the total number of assets in JLIF's portfolio to 61.

Andrew Charlesworth from John Laing Capital Management ("JLCM"), Investment Adviser to JLIF, said:

"JLIF is pleased to have secured a 100% interest in this UK-based, operational road PPP project. The project benefits from a long operating history and shadow toll mechanism which reduces the sensitivity to variation in traffic volumes. JLIF is confident in the level of prudence in this regard with its assumptions of forecast revenues and costs."

For further information, please contact:JLCM 020 7901 3326

Andrew Charlesworth

Finsbury 020 7251 3801

Philip Walters

Nidaa Lone

JLIF is one of Europe's largest listed infrastructure funds, trading on the London Stock Exchange. As an equity stakeholder, JLIF partners with public sector counterparties across the world to deliver key local and national infrastructure projects. In return these provide government-backed, inflation-linked revenue streams to our business. JLIF's continued success is built on a collaborative approach, centred on long term relationships with its clients such that their changing infrastructure needs can be met in a timely and cost effective way.